MINNEAPOLIS (AP) — MINNEAPOLIS (AP) — Ameriprise Financial Services Inc. (AMP) on Thursday reported first-quarter earnings of $915 million.
On a per-share basis, the Minneapolis-based company said it had profit of $9.68. Earnings, adjusted for one-time gains and costs, came to $11.26 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $10.20 per share.
The financial services company posted revenue of $4.81 billion in the period. Its adjusted revenue was $4.77 billion, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $4.67 billion.
Ameriprise shares have dropped slightly more than 6% since the beginning of the year, while the S&P’s 500 index has increased almost 4%. In the final minutes of trading on Thursday, shares hit $459.63, a fall of almost 3% in the last 12 months.
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